Key Highlights
- BTC reached approximately $65,500, marking a fresh two-week peak with daily gains of 1% and weekly advances of 5%
- Spot Bitcoin ETFs in the United States logged their fifth consecutive session of positive inflows, accumulating over $600 million, with $227M entering on July 20
- Asian chip stocks experienced significant recovery, with key indices in South Korea and Taiwan each jumping approximately 4%
- Derivatives trading activity for Bitcoin exploded 95% higher to reach $59.67 billion, while open interest expanded to $49.07 billion
- Crypto regulatory outlook improved as President Trump accepted an ethics provision linked to the CLARITY Act legislation
On Tuesday, Bitcoin achieved its highest level in two weeks, touching approximately $65,500 with intraday gains of 1% and weekly appreciation of 5%. Trading volume for the session reached roughly $33 billion.
Ether delivered stronger performance, advancing 3% to reach $1,922 ā an 8% gain across seven trading sessions. XRP posted 3% gains to $1.13, while Solana increased 2% to $78, and BNB maintained its position at $574. Dogecoin traded sideways. Hyperliquid’s HYPE token added 4% to $63, though it remains the sole major cryptocurrency showing weekly losses.
Sustained ETF Buying Signals Institutional Return
On July 20, U.S. spot Bitcoin exchange-traded funds attracted $227 million in net inflows, extending a positive streak to five consecutive trading days. Total net assets held by these ETFs expanded to roughly $79.16 billion. Meanwhile, spot Ethereum ETFs captured $38.09 million during the same period.
The cumulative five-day inflow sequence exceeds $600 million ā representing the strongest period of institutional accumulation since mid-July and effectively reversing an eight-week pattern of outflows that persisted through late June.
The total cryptocurrency market capitalization expanded 1.56% over 24 hours to $2.24 trillion.
Bitcoin derivatives markets experienced heightened activity. Trading volumes surged 95% to $59.67 billion. Open interest grew 2.36% to $49.07 billion. Options trading volume exploded 138% to $3.25 billion, while options open interest increased 1.86% to $32.67 billion.
On the four-hour timeframe, BTC traded within a range of $65,140 to $65,623. The MACD indicator displayed bullish momentum while the RSI registered 62, remaining below overbought levels. A decisive breakout above $66,000 could pave the way toward $67,000 and subsequently $68,000. Conversely, failure to maintain $65,000 support might bring $64,000 back into focus.
Regulatory Developments Enhance Market Confidence
Market sentiment received an additional boost from developments in Washington. President Trump accepted an ethics provision attached to the CLARITY Act ā proposed legislation that would establish a regulatory framework dividing oversight of digital assets between the SEC and CFTC. According to an industry source speaking with The Block, the agreement was finalized Monday evening following months of negotiations. Congressional action is required before the early August recess.
The semiconductor sector recovery contributed momentum to the broader risk asset rally. MSCI’s Asia Pacific index advanced 2%. Markets in South Korea and Taiwan each posted gains of approximately 4%. Japan’s Nikkei index climbed 3%. A technology-focused mainland China index surged nearly 7% amid state-backed buying activity.
Oil prices retreated, with Brent crude declining 1% to $88.58 following indications from Iran that mediators were distributing proposals aimed at reducing tensions.
Jeff Mei, COO at BTSE, commented: “Current bitcoin and ether prices are low but fair, given the macro uncertainties pervading markets.” He emphasized that market participants are closely monitoring the Fed’s July 28ā29 policy meeting, with current pricing suggesting only 15% probability of a July rate increase.
Market analyst MichaĆ«l van de Poppe (@CryptoMichNL) presented his outlook that Bitcoin could advance toward the $80,000ā$85,000 range over the coming two to three months, a move he anticipates would align with the 50-week moving average ā a level he characterizes as typical resistance during the initial phase of post-bear-market recoveries.
Bitcoin’s most recent price stood at $65,442, with buyers successfully defending the $65,000 support threshold.
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